New Mexico Gov. Bill Richardson endorsed former rival Barack Obama's presidential bid Friday, giving Obama a boost from a well-known Democrat who once served in Bill Clinton's administration.

Obama's candidacy is a "once-in-a-lifetime opportunity for our nation," Richardson said at a rally in Portland, Ore., where Obama is campaigning in advance of the May 20 Oregon primary. Turning to Obama, Richardson said, "I am very proud to endorse your candidacy."

"For him to stand before you today and not just offer his endorsement but offer his confidence that I will perform the task of commander in chief and president of the United States with the kind of excellence he wants to see ... I can't be more honored," said Obama.

The endorsement from Richardson, the nation's only Hispanic governor, comes despite his ties to Hillary Rodham Clinton, Obama's chief rival. Richardson served as U.N. ambassador and energy secretary in the presidential administration of Clinton's husband, Bill Clinton.

Richardson ended his own Democratic presidential bid Jan. 10 after finishing well back in the Iowa caucuses and the New Hampshire primary. His endorsement had been pursued by both Clinton and Obama, and his position as governor also means he will be a "super delegate" at the Democratic National Convention in August.

Richardson's endorsement also could help Obama pick up support among Hispanics, who are the nation's largest and fastest-growing minority.

Clinton has been the favorite of Hispanics in primaries and caucuses, according to exit polls. She won the New Mexico caucus in early February with a nearly 2-to-1 advantage among Hispanics.

Obama said Richardson was "somebody who has been motivated by the desire to make the lives of his constituents and working people a little bit better."

In a statement earlier Friday, Richardson praised Hillary Clinton as a "distinguished leader with vast experience." But he said Obama "will be a historic and great president, who can bring us the change we so desperately need by bringing us together as a nation here at home and with our allies abroad."

The Clinton campaign was dismissive of the endorsement.

Citing Clinton's victory in New Mexico in February, senior strategist Mark Penn told reporters Friday in a conference call, "Perhaps the time when he could have been most effective has long since past." Penn added that he didn't think it was a "significant endorsement."

Richardson was a roving diplomatic troubleshooter when he was a congressman from New Mexico, negotiating the release of U.S. hostages in several countries and meeting with a rogue's gallery of U.S. adversaries, including Saddam Hussein and Fidel Castro.

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Democratic presidential hopeful Sen. Barack Obama D-Ill., left, smiles as New Mexico Gov. Bill Richardson greets the crowd Friday at the Memorial Coliseum in Portland, Ore. where Richardson announced his endorsement of Obama.

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